Amina Chattha
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Why XRP Is Falling Despite Pro-Crypto SEC Leadership
Ripple’s native token, XRP, is taking an unexpected nosedive, defying the broader crypto market’s positive trend. This dip is particularly surprising given the appointment of a pro-crypto SEC Chair nominee by Donald Trump—a move expected to uplift the token’s trajectory.
Is a Pro-Crypto SEC Chair Enough?
Ripple has been embroiled in a legal battle with the SEC since 2020, accused of raising $1.3 billion through unregistered XRP sales. While Ripple scored partial victories, a definitive resolution remains elusive.
The lawsuit reached a pivotal moment this summer when Ripple was ordered to pay $125 million to settle. However, the SEC, led by Gary Gensler, appealed, delaying closure yet again.
Then came Trump’s presidential win on November 5, 2024, and Gensler’s resignation announcement, paving the way for Paul Atkins—a known crypto advocate—as the new SEC Chair. This development, initially bullish, appears to have faltered in sustaining XRP’s momentum.
What’s Behind XRP’s Decline?
XRP’s rollercoaster journey saw it surge from $0.60 to nearly $3 in anticipation of Trump’s pro-crypto agenda. But, in a single day, XRP fell 12%, dipping below $2.30 and shrinking its market cap to $130 billion, slipping below Tether in rankings.
The likely culprit? The classic “buy-the-rumor, sell-the-news” effect. Traders piled in on speculative gains but cashed out once the anticipated news materialized, triggering a sell-off.
What’s Next for XRP?
While the pro-crypto leadership at the SEC is a step in the right direction, XRP’s future hinges on two key factors:
1. The resolution of its legal battles.
2. The new SEC’s approach to crypto regulation.
The token’s recent slump underscores the unpredictability of crypto markets and the importance of measured investor behavior during high-stakes events.
Takeaway for Investors
This downturn is a reminder of crypto’s volatile nature. For those eyeing long-term gains, XRP’s trajectory will be shaped by regulatory clarity and how Ripple navigates its legal hurdles under a potentially crypto-friendly SEC.
Stay tuned as this story unfolds—XRP could still be a major player in the ever-evolving crypto landscape.
#BURNGMT #CardanoFoundationHack #FanTokensRise
Is a Pro-Crypto SEC Chair Enough?
Ripple has been embroiled in a legal battle with the SEC since 2020, accused of raising $1.3 billion through unregistered XRP sales. While Ripple scored partial victories, a definitive resolution remains elusive.
The lawsuit reached a pivotal moment this summer when Ripple was ordered to pay $125 million to settle. However, the SEC, led by Gary Gensler, appealed, delaying closure yet again.
Then came Trump’s presidential win on November 5, 2024, and Gensler’s resignation announcement, paving the way for Paul Atkins—a known crypto advocate—as the new SEC Chair. This development, initially bullish, appears to have faltered in sustaining XRP’s momentum.
What’s Behind XRP’s Decline?
XRP’s rollercoaster journey saw it surge from $0.60 to nearly $3 in anticipation of Trump’s pro-crypto agenda. But, in a single day, XRP fell 12%, dipping below $2.30 and shrinking its market cap to $130 billion, slipping below Tether in rankings.
The likely culprit? The classic “buy-the-rumor, sell-the-news” effect. Traders piled in on speculative gains but cashed out once the anticipated news materialized, triggering a sell-off.
What’s Next for XRP?
While the pro-crypto leadership at the SEC is a step in the right direction, XRP’s future hinges on two key factors:
1. The resolution of its legal battles.
2. The new SEC’s approach to crypto regulation.
The token’s recent slump underscores the unpredictability of crypto markets and the importance of measured investor behavior during high-stakes events.
Takeaway for Investors
This downturn is a reminder of crypto’s volatile nature. For those eyeing long-term gains, XRP’s trajectory will be shaped by regulatory clarity and how Ripple navigates its legal hurdles under a potentially crypto-friendly SEC.
Stay tuned as this story unfolds—XRP could still be a major player in the ever-evolving crypto landscape.
#BURNGMT #CardanoFoundationHack #FanTokensRise
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
